Free Trial

Earlier risk led rally saw EUR/USD......>

EURO-DOLLAR
MNI (London)
EURO-DOLLAR: Earlier risk led rally saw EUR/USD eventually clear above $1.1350
before it stretched on to $1.1359. Failure to bring pressure to bear on the next
band of resistance, noted between $1.1362/67 saw rate ease back through the
remainder of the day, touching a low of $1.1325. Move lower was seen driven by a
mix of sterling influence, as the pound was knocked lower by comments from the
UK Parliament speaker concerning a third Meaningful Vote, and an easing of risk
appetite. Support seen between $1.1317/15 ahead of $1.1300. Resistance now
suggested between $1.1360/70. Tuesday brings ECB Praet speaking in Versailles at
0935GMT. Germany ZEW at 1000GMT. US Redbook at 1255GMT then Factory Orders at
1400GMT.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.